The global ferrovanadium market is expected to register a CAGR of 5.0% over the forecast period (2018-2028) in value terms.
[USPRwire, Fri Oct 26 2018] Formed by an amalgamation of iron and vanadium, ferrovanadium is widely recognized for its anti-corrosion properties and high tensile strength, thus finds ample utility in steel production. With surged consumption of steel across verticals such as automotive and construction, ferrovanadium market is expected to witness notable growth. Market Research Reports Search Engine (MRRSE) in its recent report addition titled, ‘Ferrovanadium Market: Global Industry Analysis 2013 – 2017 and Opportunity Assessment 2018 – 2028‘examines ongoing trends and developments and their reciprocal impact on holistic growth of ferrovanadium market.
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In the wake of surged demands, leading providers in ferrovanadium market are encouraged to escalate production capabilities to pace up with surged end-user demands. Need for superior quality steel necessitates adoption of alloys such as ferrovanadium for enhanced steel qualities. Leading players have invested substantially towards facility modernization as well as expansion ventures to align with industry specificities, thus ensuring significant sustenance in the stiff competitive landscape o ferrovanadium market.
AMG Vanadium LLC Heightens Production Capacity with New Facility in North America
According to a recent report, leading ferrovanadium manufacturer, AMG Vanadium LLC has lately disclosed its investment plans to increase its production capacity, to align with surged demands in the North American ferrovanadium market. The newly established production house in North America is expected to begin operations early next year, thus commercializing ferrovanadium offerings by 2021. With this development in place, AMG aspires to consolidate its footing in the fast expanding ferrovanadium market.
This report on ferrovanadium market is a comprehensive guide about current market trends, drivers, and restraints that shape ferrovanadium market. Detailed research postulates gleaned in this section of the report enlighten readers with new perspectives, enabling them to deliver precise, well-informed business decisions to ensure sustenance in ferrovanadium market. Further in the course of the report, readers are also presented with a deep-dive overview of various segments operational in ferrovanadium market, based on which the market is classified by grade, by production method, and end-use industry. On the basis of grade, ferrovanadium market is diversified as FeV 40, FeV 50, FeV 60, and FeV 80. In terms of production method, ferrovanadium market is split as aluminothermic reduction and silicon reduction. On the basis of end-use, ferrovanadium market is diversified into aerospace, automotive and transport, construction, oil and gas, and industrial equipment amongst others.
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Asia-Pacific Region Likely to Dominate Market Share in the Forecast Period
Additionally, the report further presents an overview of regional scope of ferrovanadium market, based on which the report identifies Eastern and Western Europe, North America, Latin America, India, China, Japan, Southeast Asia, and Middle East and Africa as core regional pockets.
Competition Dashboard: Ferrovanadium Market
Elaborate research elements gleaned in the report allow readers to evaluate the effectiveness of marketing tactics and tools implemented by core market players across regions in influencing consumer response such as their buying discretion. New and existing market players can engage in thorough analysis of these strategies to incur core deductions based on which market players can facilitate lucrative business decisions to cement their lead in ferrovanadium market. Noted market players identified in ferrovanadium market comprise, Evraz plc; AMG Advanced Metallurgical Group; Bear Metallurgical Company; Treibacher Industries AG; and Reade International Corp. amongst others.
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